Fascinate Textiles made a lackluster entrance onto the NSE SME platform this morning, with shares beginning trading at Rs 120.80—a 20% plunge from the original issue price of Rs 151.
The poor market reception stands in stark contrast to the initial public offering process, which saw the issue subscribed 1.48 times. Despite the oversubscription, retail and institutional sentiment soured immediately upon listing.
The company enters the public markets backed by reported growth in both revenue and profit for the fiscal year 2026. However, broader market volatility and SME liquidity concerns appear to have weighed heavily on the stock's performance.
Investors are now closely watching to see if the textile manufacturer can recover from this sharp opening correction as trading volume stabilizes throughout the session.
